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Fed's Fisher: Fed must take care if buys Treasuries


    WASHINGTON (Reuters) - Dallas Federal Reserve Bank President Richard Fisher said on Monday the Fed must avoid the appearance of monetizing debt if it buys U.S. Treasuries to aid the country's growth, but should not let this concern prevent action.

    "The Federal Reserve must, of course, be very careful to avoid the perception that it is monetizing the explosion of fiscal deficits, as this would undermine confidence in our independence and raise serious doubts about our long-term commitment to price stability," Fisher said in remarks prepared for a speech to an energy conference in Houston.

    "This does not mean, however, that we should refrain from buying Treasuries in this time of crisis," Fisher said.

    The U.S. central bank said on January 28 it was considering whether purchasing longer term U.S. Treasuries would help the functioning of private credit markets and aid the economy.

    (Reporting by Alister bull, editing by Leslie Adler)